Daily Forecast – Share Market – June 2nd, 2021

Nifty Looking for 15600+ | Suddenness possible

Moon with Rahu and Mars is leading the day, well supported by Jupiter and retrograde Saturn. Importantly, Mars has moved in its debilitated sign (neech rashi), in the house of neighbours, exchanging aspect with Saturn. Areas related to Judiciary, religion neighbour, space and many more will be active slowly and gradually. Lord of share market and banks/financial institution will move back in Taurus sign, tomorrow’s working day will be with fallen planet (lord of share market and banks – not supportive). Rahu is strong.

Government may have to face further criticism, may be due to Vaccination or other reasons, ultimately, layman is affected negatively. Indication from Rahu is that – market is rising because of big bulls, not because of actual strength of the market, because consumption theory and pocket of common man is not good. How a company can grow if they have no strength of consumer? That’s why time to time I remember 1992.

Crude oil rates are indicating that demand of oil is improving, may be country wise or so. INR is also losing its position during the day. Which may give advantage to the oil exploration companies.

Market seems to be positive but not with much excitement, although suddenness is also possible. I agree that COVID is better in comparison to the previous fortnight. Unlocking process is started in various areas. Vaccination is also on, although with lots of Politics, which may affect public.

Nifty may again look for 15600+, but suddenness is quite possible/expected. Keep a watch on Institutions etc. But I shall be prepared for fall in Nifty levels may be for a substantially.

IT, communication, metals, automobiles, oil exploration, automobile ancillary, automobile tyres, logistics and many more related to this segment. It will be better to keep a watch on attractive levels of banks and financial institution (in coming period).

Defence related companies, space and electrical and electronics related to defence, space and communication (instruments), OTT (some or other issues), keep a watch on Judiciary in coming period also. Pesticides, and related chemicals for sanitization, alcohol, spirit and sugar etc. may remain active.

Nifty may remain bit positive and ups and downs also possible, I may prefer to be watchful for the next trading session, because lord of share market will fall back in previous house.

Indian Currency

Indian Rupee may trade in between 72.60 to 73.40 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.